Brazil, holding the BRICS presidency in 2025, announced Nigeria’s admission as a “partner country” of the BRICS bloc. Nigeria becomes the 9th BRICS partner country, joining Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan. In BRICS, a “partner country” refers to nations or organizations invited to attend summits ministerial meetings, or participate in other joint ventures, but without membership status or formal decision-making power. Nigeria has the world’s 6th largest population and Africa’s largest, in addition to being the 4th largest economy in Africa. Nigeria is located on the Western coast of Africa, often called the “Giant of Africa.” About BRICS: BRICS was formed by Brazil, Russia, India and China in 2009, with South Africa added in 2010 as a counterweight to G7 countries. In 2023, the BRICS added Iran, Egypt, Ethiopia and the UAE, while Saudi Arabia has been invited to join. Indonesia has officially joined the BRICS group as the 10th member, effective from January 2025. Turkey, Azerbaijan and Malaysia have formally applied to become BRICS members.
BRICS
- BRICS is a leading intergovernmental organization of five large developing and fast growing economies.
- Formation: The BRIC association was formed in 2001. The first inaugural meeting of the organization was held in Russia in the same year 2009.
- Founding Members: The four founding members of BRIC are Brazil, Russia, India and China (2009).
Brazil – 2009
Russia – 2009
India – 2009
China – 2009
South Africa – 2010
Iran – 2024
UAE – 2024
Egypt – 2024
Ethiopia – 2024
Saudi Arabia – 2024
Argentina – 2024
Indonesia – 2025
Economic Impact
- The combined GDP of the five BRICS countries is about one-third of the total international GDP.
- Covers 46% of the world’s land area and represents a huge market and human resource base.
- The group plays an important role in promoting trade and investment among various emerging economies.